On December 13, 2024, the Canadian government announced significant updates to the Scientific Research and Experimental Development (SR&ED) Tax Incentive Program. These reforms aim to encourage more businesses to invest in research and development (R&D) by enhancing financial support and expanding eligibility. Supporting over 22,000 businesses annually, the updated program is designed to foster ..

🚀 Are you operating or planning to relocate your manufacturing business to Ontario? If so, you can receive up to $1,500,000 in grant funding! Let’s dive into Ontario’s Advanced Manufacturing and Innovation Competitiveness Stream (AMIC) and how it can benefit your business. 1️⃣ What is the AMIC Program?Ontario's AMIC program is designed to enhance the competitiveness, innovation, and job creatio..

The Scientific Research and Experimental Development (SR&ED) program and the Industrial Research Assistance Program (IRAP) are both Canadian government initiatives designed to support research and development, but they differ in several key aspects: Objective and Scope: SR&ED: This program focuses on encouraging businesses of all sizes, in all sectors, to conduct scientific research and experime..

In the context of SR&ED (Scientific Research and Experimental Development) consulting and documentation, distinguishing between "technical uncertainties" and "technological uncertainties" is crucial, as these terms carry significant implications for SR&ED eligibility and claims. Technical Uncertainties: These typically refer to challenges or unknowns encountered when applying existing knowledge ..

General Show how you arrived at the claimed amounts on T661 List of items and amounts claimed, invoices, rationale Provide proof of payment Salaries and Wages Separate SR&ED from non-SR&ED time Need to know what was done and by who for SR&ED Hours claimed for specific activities – weekly increments Materials Rationale Contracts Details of work done, IP ownership

Overhead Cost Proxy method Estimation method - 55% of salaries or wages claimed Easier than Traditional Method Can be more generous than accounting methods Overhead Cost Traditional method Exact accounting method Directly related to conducting SR&ED that would not be incurred if SR&ED was not conducted - incremental Directly attributable to providing premises, facilities or equipment to conduct ..